16.2 SkillBuilder activity INTERPRETING AND ANALYSING DATA AND INFORMATION
Discuss with your parents or carers what they buy in a week. Collect data on needs and wants, then share with your class. 1. List ýve goods and ýve services that you or someone you know may have purchased in the last week. 2. Distinguish the items listed as a need or a want, and organise them into categories — for example, food or entertainment. 3. Investigate with your family approximately what proportion of their weekly budget they spend on each category. (Some banking apps can also provide this information.)
4. Construct a pie chart showing this breakdown. 5. Share and discuss your ýndings as a class.
16.2
Exercise
Learning pathways LEVEL1 1, 2, 3, 6
LEVEL2
LEVEL3
4, 7, 8
5, 9, 10
REMEMBER AND UNDERSTAND 1. What is the difference between needs and wants? Identify all possible answers from the options provided. A. Needs are non-essential goods and services, whereas wants are goods or services that are essential for life. B. Needs are goods or services that are essential for life, whereas wants are non-essential goods and services. C. Needs include food, water and shelter, and wants include designer clothes, a mobile phone and a computer. D. Needs include designer clothes, a mobile phone and a computer, while wants include food, water and shelter. 2. Identify three types of business that provide services. A. Doctors B. Teachers C. Car manufacturers D. Clothing retailers E. Mechanics F. Food manufacturers 3. Identify three types of business that provide goods. 4. __________________ is the performance of mental or physical tasks in exchange for ___________________. It
contributes to the production of goods and services. 5. Explain why wants are considered to be unlimited. ANALYSE AND APPLY 6. Explain the role of a producer in the economy. 7. Explain the role of a consumer in the economy.
8. Explain how an individual can be both a producer and a consumer in an economy. 9. Describe one way that producers and consumers are dependent on each other. EVALUATE AND COMMUNICATE 10. Assess whether the relationship between producers and consumers could succeed without money. Propose what you think might happen if money didn’t exist. Answers and sample responses for this topic are available online.
552 Jacaranda Humanities Alive 7 Victorian Curriculum Third Edition
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